Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
Business

Western Metallica Resources Corp. Announces Update to Canadian Business Journal’s Penedela Drill Program

TORONTO, September 28, 2022 (GLOBE NEWSWIRE) — Western Metallica Resources Corp. (TSXV: WMS) (“western metallica” or “Company) is pleased to report the resumption of the Penedera Project drilling program following the announcement of the appointment of Vice President of Exploration, which has led to the reprioritization of drilling targets and advanced program planning. The current phase of his 2,000m diamond drilling program, first announced in May 2022, is focused on a significant step forward from previous targets and aims to test unexplored areas. I’m doing it. This phase of the company’s drilling program at Penedela will see higher grades and wider intercepts in the future, and by filling data intervals within the current structure, the facility will host his million ounce resource. It is intended to prove that it is possible to

The primary objective of the company’s May-July 2022 drilling program was to confirm the presence of mineralization and demonstrate its extent along the strike and potential beyond previous exploration programs. This phase was previously paused to re-record drill cores produced in 2020-2022. This also includes the integration of a new coding system with detailed descriptions of fillers and structures to reduce the risk of data loss throughout the recording process. Program planning included detailed mapping, rock sampling, and a total of 640 meters of drilling with a total depth of 291 meters achieved. See the first results in the August 8th press release.th, 2022. The program has successfully confirmed that exploration potential remains open in both north and south directions and depths. (refer graph1)Diamond-drilled holes IB024, IB025, and IB026 combined with reinterpretation of historical data yielded advanced results other than IB025 that intercepted 0.5 m low-angle core-axis pyrite-arsenopyrite veins at 17.4 g/t Au. is not an indicator of , identified the following key goals:

drill program goals highlights (See Figure 1):

  1. Penedera structure: The main breccia vein mineralization that occurs at the shear contact between the Luarca Shale and the Los Cabos quartzite has been the subject of previous drilling and not the current drilling phase.
  2. Saddle Reef and NS Fault Targets: Giant quartz veins, traditionally called ‘saddle leaf structures’, occur at anticline hinges. This occurrence in the Penedera property remains untested territory, and recent fieldwork has shown a folding style featuring a ‘short wavelength’ chevron structure. The San Martin anticline in the region. Chevron folding styles combined with the presence of mineralization constrained by petrological contacts add to recent 3D interpretations that infer the existence of the N10° fault as a possible structure feeding the system. , assuming the possible presence of saddle reef mineralization. The first planned borehole F3IB-02 is intended to test this hypothesis with a series of contingency boreholes F3IB-05 and F3IB-006, which will be drilled southwards during the strike.
  3. Cello yeast target: We aim to test and assess at depth the breccia contact on the western flank of the potential NS extension. Structural mapping, Roman traces, and geochemical analysis results support the untested target as a potential zone of interest that historically returned 1 meter at 2 g/t Au (Drill Hole IB12 by Rio Narcea Gold Mines Ltd., 1995). The prominent >200 ppb Au, soil anomaly hitting N10° could be interpreted as a hidden NS fault targeted by planned borehole F3IB-01A and depth borehole F3IB-01B.
  4. EW structure target: These N110 structures were observed to cross-cut chevron-style folding hinges and may be related to the NS extension. Associated vein systems are subject to selective channel sampling aimed at investigating its role in gold transport and deposition. These veins may have been bypassed by previous drilling directed east-west. To assess the potential for NS extension of EW impact targets, saddle reefs, and NS structures, the southern sector across Rio Linares was Zona Sul del Rio The target is of interest by holes F3IB-03 and F3IB-04 with the secondary purpose of proving the origin of the N110° system observed in this region.

Signs of a mild southward plunge of the fold axis confirmed from recent field observations suggest that the targets of the Cerroeast, Saddle Reef, NS faults, and EW structures may continue the southward trend. increase. The drill program is expected to last through November and includes step-outs aimed at assessing previously identified but untested targets, with priority drill holes designed to test these targets and , using a strategy involving secondary holes conditioned on geological evidence collected from priority targets. target hole.

Management continues to view Penedera as a very important project. This is in particular because it is surrounded by significant Roman work within the robustly mineralized Navelgas Gold Belt, and is structurally comparable to other prolific Saddle his reefs and historical models. Gold production in the Asturian region is shown across his three belts of Navelgas, Oscos and Rio Narcea, occurring as high-grade epithermal veins, skarn and intrusion-related gold deposits. The Asturias region is an important source of gold, and he hosts two of the largest known deposits on the Iberian Peninsula today: Sarabe and El Valleboinas Carles. Penedera, Valledor, Sierra Alta. Located in a prolific region shaped by multiple gold mineralization events, with past production estimated to exceed his 3 million ounces of gold, Penedera continues to be a focus project for us.

Figure 1: Map of Drill Targets for the Penedera Project Plan is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1d9811dd-0b03-4e2e-bd70-949996b5d1c1

As part of the company’s reprioritization, Sierra Alta has been defined as a secondary focus with preliminary mapping, drill scouting and targeting programs planned in parallel with the work conducted in Penedera. increase. The company has been able to build a compelling historical study on the Sierra Alta project, which underwent limited exploration in the circa 1990s by the Rio Narcea gold mining company in 2005-2006 and 2014-2015. I made it. Work aligned along the 10-kilometer NE-SW strike length and historic pits such as the Freita Pit, where an estimated 29 million tons of material were mined. Rio Narcea Gold Mines Ltd. conducted further soil sampling and identified a series of gold anomalies over the eight-kilometer strike length. The largest is described as being 3 kilometers long and 300 meters wide located to the north, with his second region of gold anomaly to the south. Over an area approximately 1.5 kilometers long and 200 meters wide, as reported by Emerita Resources Corp. in 2016. Subsequent rock sampling conducted by Emerita Resources Corp. in 2014 returned grades up to 10.65 g/t Au. A rock chip sample reported by Rio Narcea Gold Mines Ltd. returned a significant grade of 338 g/t Au, with a result of 48.96 g/t Au within the region of the geochemical anomaly. high grade. Based on historical activity and distribution of soil anomalies, more than 4 kilometers of unverified strike length of the Sierra Alta system remains. Readers are cautioned that the historical records of Rio Narcea Gold Mines Ltd. and Emerita Resources Corp. have not been verified by qualified personnel and should not be relied upon as current. Additional work is needed to validate past work and incorporate it into current Mineral Resource estimates.

Quality assurance and quality control

Sample preparation and analysis are performed according to standard industry procedures. Drill core samples are crushed, split and pulverized after four acid digestions followed by fire analysis by ICP-AES and atomic absorption and multi-element gold analysis. Analytical performance is monitored by certified reference materials (CRM), coarse blanks, coarse and pulp replicate samples. Samples were prepared at the ALS Chemex preparation lab in Seville, Spain, and analysis was completed at ALS Rosia Montana (Fire Assays) in Aruba, Romania and LAS Loughrea, Galway, Ireland (ICP).

qualified person

The technical and scientific information in this press release has been reviewed by Giovanni Funaioli of Eur.Geol., Vice President of Exploration of Western Metallica, Western Metallica, a “Qualified Person” as defined in National Instrument 43-101 and approved. Disclosure standards for mineral projects. Mr. Giovanni Funaioli is an employee of the Company and is not considered independent under NI 43-101.

About Western Metallica Resources

Western Metallica is a British Columbia company headquartered in Toronto, Ontario and traded on the TSX Venture Exchange (TSXV) under the symbol WMS. Western Metallica operates in the exploration and development of mineral resources and its principal asset is his 100% owned Penedera Gold property located in the “Navelgas Gold Belt” in Asturias, Spain. Western Metallica is also interested in two other Spanish gold projects (Valledor and Sierra Alta) in Asturias’ “Navelgas Gold Belt” and one of his in Andalusia (Nueva Celti).

For more information about the company, please visit www.westernmetallica.com.

For more information, please contact:

Western Metallica Resources Corporation
Gregory Duras
Chief executive officer
Email: [email protected]

PR for investors
Email: [email protected]

Cautionary Note Regarding Forward-Looking Statements

TSXV neither endorses nor disapproves of the contents of this press release. Neither TSXV nor its regulated service providers (as those terms are defined in TSXV’s Policy) assume responsibility for the adequacy or accuracy of this press release.

This press release contains statements that constitute “forward statements.” Such forward-looking statements involve known and unknown risks, uncertainties and our actual results, performance or achievements or developments, either expressed or implied by such forward-looking statements. Includes other factors that could cause results, performance or achievements to differ materially from those expected.

The Company believes that the expectations reflected in this forward-looking information are reasonable in light of the experience of its officers and directors, current conditions, anticipated future developments and such other factors as it deems appropriate. However, undue reliance should not be placed on this information. We cannot give any guarantee that they will be correct. As used in this press release, “estimate”, “predict”, “believe”, “predict”, “intend”, “expect”, “plan”, “predict”, “possible” The words “may” or “should” and negative forms of these words or variations thereof or equivalent terms are intended to identify forward-looking statements and information. . Forward-looking statements and information in this press release include information regarding the development and prospects for the planned drilling program, the Penedera Project and other mining projects. Such statements and information reflect our current views. Risks and uncertainties that could cause actual results to differ materially from those envisioned in these forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other Future events may differ materially from any future results, performance or achievements expressed or implied by us. such forward-looking statements.

The forward-looking information contained in this news release represents our expectations as of the date of this news release and is therefore subject to change after that date. Readers should not place undue weight on forward-looking information or rely on this information as of any other date. We undertake no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions or other factors change.


CBJ Newsmaker

Western Metallica Resources Corp. Announces Update to Canadian Business Journal’s Penedela Drill Program

Source link Western Metallica Resources Corp. Announces Update to Canadian Business Journal’s Penedela Drill Program

Related Articles

Back to top button